Truphone secures £30 million in funding at a £410 million valuation

Truphone, the London-based global mobile network provider, has raised £30 million from existing investors to further develop its eSIM software and expand business in North America and Asia Pacific. The company’s valuation now sits at £410 million.

Among other products, the telecommunications company offers an eSIM technology stack for mobile operators, device makers and chip manufacturers. Since launching its first eSIM in September 2018, the company claims it has provided over four million eSIM profiles to consumer and IoT devices, with 20,000 downloads every day.

The company acquired 25 mobile network operators as customers over the last year. According to a press release, the operators brought about 200 million new users into the fold.

Truphone was founded in London in 2016 and now has 15 offices across four continents. Previous investors include Minden, Vollin Holdings, Emerson Collective, Millhouse, Wellington Partners and Acton Capital.